New Delhi, Aug 15 (IANS) Real estate firm Max Estates has posted a 30 per cent decline in its consolidated net profit for the June quarter at Rs 8.35 crore, while its total income remained unchanged from a year earlier.

The company had posted a consolidated net profit of Rs 11.93 crore in the corresponding period of the previous fiscal year.

According to a regulatory filing, total income stood at Rs 80.07 crore during the first quarter of 2025-26, compared with Rs 80.12 crore in the year-ago period.

In addition, revenue from operations increased marginally to Rs 51.91 crore during the quarter ended June 30 from Rs 51.47 crore a year earlier.

In September 2024, Max Estates raised about Rs 800 crore through a qualified institutions placement (QIP), allotting 1.34 crore equity shares to 25 qualified institutional buyers at Rs 597.50 per share.

Out of net proceeds of Rs 779.58 crore, around Rs 646.06 crore had been utilised for acquisition of land, interests in land and development rights, while Rs 129.58 crore was used for general corporate purposes.

An unutilised amount of Rs 3.94 crore remains invested in bank fixed deposits, the company said.

Max Estates — the real estate arm of the Max Group — develops residential and commercial projects in the Delhi-NCR region. The company also owns real estate services and management arm Max Asset Services.

Shares of Max Estates settled at Rs 442.70 apiece on the BSE on Friday. The stock has touched a 52-week high of Rs 503.90 and a 52-week low of Rs 305.55, according to the exchange.

In the last two-year horizon, the stock has declined more than 20 per cent and over one per cent in the past one year. On a year-to-date basis, the stock slipped by 3 per cent, according to the BSE.

–IANS

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